Rising Scale in Bonds Signals Money Flow as Rates Fall
New York November 6 bonds rose on a falling rate backdrop with Fed rediscounts cut to 4 1 4 percent at major centers and Treasury certificates drawing strong subscriptions. Industry remains a net lender in the open market while stock activity shows mixed progress in textiles, petroleum, and agriculture amid a broad recovery mood.
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William W. Craig
New York
Federal Reserve Bank
Treasury
Stesl
Producta
Ireland
Sometina
Sixteen Soldiers Burned in Budapest Barracks Fire
Budapest report says sixteen soldiers perished when the Radeveky barracks housing royal government troops burned. Police tie the blaze to incendiary gang activity blamed on opponents of former King Charles.
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Budapest
Radeveky
Une
Charles
Rails and Mines Strong On the French Bourse
Paris financial news shows calm ahead of official replies on the Soviet debt issue and Turkish quotation stance until the French Chamber approves the Ankara accord. A proposed international bold reserve bank drew little support, with objections centered on replacing individual financiers with a banking body.
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Paris
Franklin Bahl
Angora
F. A. Vanderlip
International money flows and gold reserves under 1931 policy shifts
Europe Nouvelle warns that cross border demand will concentrate currency where exchange is best, risking U S hegemony without metallic backing. The Bank of France holds firm on higher reserve requirements while easing slowly, amid improving government advances and rising banknote circulation as trends point to a gradual economic revival.
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Bank To England
Bank of France
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London Market Sees Notable Week of Improvement
London market notes a firmer week with less political influence and stronger gilt-edges as safer assets attract buyers. Legal loans succeed, Russia opens debt talks, liquidation slows, and Bank of England rate cuts inspire wary optimism, while German mark slump dominates and fuels speculation of engineered depreciation.
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London
Capel Court
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Bank of Englandtate
Germany
Warns Against Buying Foreign Nation Bonds
Commerce department warns American investors to exercise caution in purchasing foreign bonds payable in depreciated currencies. It cites offers in national municipal and industrial values in currencies of Germany Austria Poland Czecho Slovakia Romania Yugoslavia and Hungary. It notes prices often exceed actual exchange values and describes gaps between sale price and purchase cost abroad.
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Commerce Department
Germany
Austria
Poland
Caecho- Flovakia
Roumania
Jugoslavia
Hungary
Millions Loaned for Agriculture and Livestock Credit
The War Finance Corporation reports over 22.66 million dollars in agriculture and stock raising credit extended to farmers and stockmen through 82 institutions across 19 states. Advances range from small sums to a single 15.8 million loan to a Minnesota cooperative. funds come from Treasury balances and possible bond issues discussed for future financing.
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Tie Corporation
Railroads Booms Lift Economy Across Industries
Government finance officials say credit support for railroads and agriculture will spur business in 30 days. Reductions in interest rates have boosted railway securities and demand for trust certificates held by the director general of railroads. Over 260 million dollars in equipment trust certificates remain to be sold to settle carrier claims with the government.
MENTIONED IN THIS ARTICLE
Peeriod
Treasury Department
Genersl
Eugene Meyer
War Finance Corporation
U S Gold Holdings Reach New High In Last Month
United States gold holdings rose to a record level last month, nearing 3.5 billion dollars. Twelve Federal reserve banks hold about 930.6 million, while local banks and private dealers in New York store substantial bullion. The influx since the war’s end averages 75 million monthly, with coins from multiple nations including old Spanish types and reparations era French coin.
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New York
United States
Federal Reserve
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Louis Bor
France
New York Clearing House
Chasigera
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